Улаанбаатар
A draft of integrated national financing strategy presented
Economy
Ulaanbaatar/MONTSAME/. A Draft of Integrated National Financing Strategy (2021-2025) was presented by Ms S. Mungunchimeg, Deputy Minister of Finance of Mongolia, Chair of the Ministry of Finance and UNDP led the technical working group responsible for developing an Integrated National Financing Framework (INFF) for sustainable development.
The content outlined in 1. Financing needs and the rationales for strengthening INFF, and 2. Integrated National Financing Strategy. Working group members representing the Cabinet Secretariat, Central Bank, ADB, Development Bank, Chamber of Commerce, UN Resident Coordinators’ Office shared the comments and suggestions to integrate and strengthen the Financing Strategy document, before presenting it to the Minister of Finance and the Government.
The working group facilitates the participation of a wide
range of representatives, including development financing, policymakers,
international organisations and the private sector, to generate and engage in
more frequent dialogue among these representatives who are driving national
development. Since February, the INFF working group worked and conducted the ‘Baseline
Assessment of the Integrated National Financing Framework’, ‘Financing Needs
Exercises of Sustainable Development Goals’ (along with report and calculation),
and developed the draft of ‘Integrated National Financing Strategy’.
The Integrated National Financing Framework (INNF) aims to
accelerate sustainable development by increasing the coherence of national
development policies with the financial resources funding and increasing
funding sources. The financing strategy is at the core of the national
integrated financing system and framework. It provides a path for financing
national development strategies and plans building on the INFF baseline
assessment findings. The development of a financing strategy under the INFF
will ensure that public and private funding sources are well aligned with the
national sustainable development, contribute to resolving the bottlenecks and
constraints for sustainable development financing, financial resources
mobilization for sustainable development, develop innovative financing
instruments and improvement of governance and coordination of integrated
national financing strategy, and ultimately intend to accelerate the
implementation of national sustainable development goals.
With the support from United Nations and European Union,
many countries, including Mongolia, are pioneering the INFF development
nationally.
Source: UNDP in Mongolia
